Chinese Consumers Look to Europe to Save on Luxury Goods

As China’s consumer economy burgeons, retail brands around the world are all asking themselves the same question: what do Chinese consumers want?  Research shows that European shoppers, who have been dubbed the “‘Sleeping Beauty’ of European luxury” by McKinsey & Co., are not the ones engaging in retail extravagance.  Instead, Chinese shoppers are to thank – Chinese consumers accounted for half of Europe’s luxury goods sales last year.  It’s pretty safe to say that European luxury goods hold a special place on their wish lists.